VIENNA, Austria (Bloomberg) -- OPEC trimmed estimates for the amount of crude it will need to pump this year amid rising U.S. supplies, and predicted that a “supply buffer” will accumulate before demand peaks in the summer. The Organization of Petroleum Exporting Countries, responsible for 40% of the world’s oil supply, will need to provide an average of 29.6 MMbpd of crude this year, according to its monthly market report.
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OPEC sees lower demand as U.S. output rises
![OPEC sees lower demand as U.S. output rises]()
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